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ABOUT EVENT

India is one of the fastest growing major economies and is currently ranked as the world’s sixth largest economy. Projections of growth, over the medium term, remain encouraging and optimistic for India. The underlying strengths are indicative of the potential of India to achieve a USD 5 trillion economy by 2025. The current structure of the economy and the emerging dynamics provide us grounds to target achieving 1 trillion dollar from agriculture and allied activities, 1 trillion from manufacturing and 3 trillion from services.

Digital adoption is expanding steadily in the country and is reshaping the dynamics of the retail industry. Omnichannel is a growing trend and a way of life for retail industry. This trend is likely to continue in the years to come. Online retail market in India is projected to reach US$ 350 billion by 2030 from an estimated US$ 55 billion in 2021, due to rising online shoppers in the country. To boost demand and take the country to a USD 5 trillion economy goal, the Government of India has taken various initiatives to improve the Retail Industry in India. RBI announced plans for a new framework for retail digital payments in offline mode to accelerate digital payment adoption in the country. Government of India has allowed 100% FDI in online retail of goods and services through the automatic route, thereby providing clarity on the existing businesses of E-commerce companies operating in India.

CII perceives these as opportunities for all stakeholders, including government and private sector. To address the issues and concerns and to draw a roadmap for 2022, CII Northern Region is organizing the 2nd edition of its flagship initiative CII NR Retail 2022 with the theme ‘Propelling Growth for Realising $ 5 Trillion Economy Vision’ on 24 February 2022 over virtual platform.